| Job
prospects have never looked better for business
school graduates. According to new research from
the Graduate Management Admission Council (GMAC),
corporate recruiters plan to hire 18 percent more
MBAs this year than in 2005. Moreover, the survey
found that the average new MBA’s starting
base salary is over $92,000 up 4.2 percent from
the $88,626 average in 2005. The average total
compensation package for newly minted MBAs has
risen to $99,737.
Numbers for the top b-schools look even more promising.
Last year, Harvard Business School graduates reported
an average total compensation package worth over
$174,000, up 11 per cent from 2004. MBAs from
Dartmouth College’s Tuck School reported
a substantial increase of more than 15 percent,
receiving an average of $150,000 and Stanford
Business Graduates averaging almost $149,913,
up 9.5 percent.
“Everyway
you look at it, the market for MBA talent has
come back strong,” said David A. Wilson,
president and CEO of GMAC. Recruiters have a positive
outlook of the economy, and feel it is stronger
now than at any other point since the GMAC Corporate
Recruiters Survey was launched in 2002. Furthermore,
two thirds of students surveyed rated their MBA
degree as an outstanding or excellent value, proving
that most MBA students feel that their investment
in business school was worthwhile.
More and more students are applying to business
schools to take advantage of these encouraging
trends. GMAT registrations beginning in March
for 2006 began to outpace registrations for the
same period in 2005. Registration volume for the
GMAT through the first five months of 2006 was
96,714 worldwide, 3.9% more than the number of
registrations during the same period in 2005.
Registration volume increased 2.8% within the
U.S. and 6.3% outside the U.S.
The GMAT is one of the primary factors that will
determine an applicant’s acceptance into
Business School, as well as their eligibility
for merit-based grants, scholarships, assistantships,
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Instructors who have all scored in the 99th
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